Polaris Industries Inc. (NYSE: PII) today announced that its Board of Directors approved a 14% percent increase in the 2013 regular quarterly cash dividend that raises the payout to $0.42 per share. The first quarterly dividend will be payable on March 15, 2013 to shareholders of record at the close of business on March 1, 2013.
“For the 18 th consecutive year we are raising our dividend payout, underscoring our focus on generating shareholder value. In 2012, we delivered another year of outstanding growth and profitability as our net income increased 37 percent on 21 percent sales growth. This performance, alongside our continued confidence in the execution of our long-term strategy, the strength of our balance sheet and our ability to generate strong cash flows, supports the 14% increase in our dividend,” Scott Wine, Polaris’ Chairman and CEO commented. “We are committed to maintaining a proper equilibrium between shareholder return and ongoing investment in the business. This balance is emphasized by our continued solid financial performance, even as we expand our operations worldwide including doubling the size of our research and development facility, continuing to fund the re-launch of Indian motorcycles and the development of our new European manufacturing facility.”
Polaris is a recognized leader in the powersports industry with annual 2012 sales of $3.2 billion. Polaris designs, engineers, manufactures and markets innovative, high quality off-road vehicles, including all-terrain vehicles (ATVs) and the Polaris RANGER ® and RZR ® side-by-side vehicles, snowmobiles, motorcycles and on-road electric/hybrid powered vehicles.Polaris is among the global sales leaders for both snowmobiles and off-road vehicles and has established a presence in the heavyweight cruiser and touring motorcycle market with the Victory and Indian motorcycle brands. Additionally, Polaris continues to invest in the global on-road small electric/hybrid powered vehicle industry with Global Electric Motorcars (GEM), Goupil Industrie SA, and internally developed vehicles. Polaris enhances the riding experience with a complete line of Pure Polaris and KLIM branded apparel and Polaris accessories and parts.